Sensex soars 1,293 pts, Nifty rises to record high on buying in bluechips

Mumbai: Benchmark Sensex rebounded by 1,293 points while Nifty shot up to a record high on Friday, cutting short the five-day losing streak on heavy value buying at lower levels and a rally in blue-chips like Infosys, Airtel and Reliance Industries.

The 30-share BSE Sensex jumped 1,292.92 points or 1.62 per cent to settle at 81,332.72. During the day, it soared 1,387.38 points or 1.73 per cent to 81,427.18.

Thanks to the optimistic trend, the market capitalisation of BSE-listed firms rallied by Rs 7,10,235.45 crore to hit an all-time high of Rs 4,56,92,671.33 crore ($5.46 trillion).

The NSE Nifty surged 428.75 points or 1.76 per cent to settle at an all-time closing high of 24,834.85. As many as 47 of Nifty constituents closed in green while three ended lower.

Sensex and Nifty had been on a decline since Friday last. Sensex tumbled 1,303.66 points or 1.60 per cent, while the Nifty declined 394.75 points or 1.59 per cent in five straight days of losses to Thursday.

All the Sensex shares except for Nestle closed in green on Friday.

Bharti Airtel was the biggest gainer, rising by over 4.51 per cent. Adani Ports, Sun Pharma, Tata Steel, HCL Technologies, Infosys, JSW Steel and Mahindra & Mahindra were the other big gainers.

Nestle was the only loser, closing lower by 0.07 per cent.

In the broader market, the BSE midcap gauge soared 2.12 per cent and smallcap index rallied 1 per cent.

All the indices ended higher, with telecommunication jumping 3.36 per cent, metal (3.19 per cent), tech (2.76 per cent), auto (2.35 per cent), commodities (2.26 per cent) and healthcare (2.10 per cent).

As many as 2,652 stocks advanced while 1,286 declined and 102 remained unchanged on the BSE.

On the weekly front, the BSE benchmark rose by 728.07 points or 0.90 per cent and the Nifty climbed 303.95 points or 1.23 per cent.

Global oil benchmark Brent crude declined 0.40 per cent to $82.04 a barrel. FIIs offloaded equities worth Rs 2,605.49 crore on Thursday, according to exchange data.

After a sharp fall in intra-day trade on Thursday, the BSE benchmark managed to recover some of the lost ground to settle 109.08 points or 0.14 per cent lower at 80,039.80. The NSE Nifty dipped 7.40 points or 0.03 per cent to 24,406.10.